Silverfin false false 31/08/2023 24/08/2022 31/08/2023 H M Du Preez 24/08/2022 22 January 2024 The principal activity of the Company during the financial year was that of dental practitioners. 14315228 2023-08-31 14315228 bus:Director1 2023-08-31 14315228 core:CurrentFinancialInstruments 2023-08-31 14315228 core:Non-currentFinancialInstruments 2023-08-31 14315228 core:ShareCapital 2023-08-31 14315228 core:RetainedEarningsAccumulatedLosses 2023-08-31 14315228 core:LandBuildings 2022-08-23 14315228 core:PlantMachinery 2022-08-23 14315228 core:ComputerEquipment 2022-08-23 14315228 2022-08-23 14315228 core:LandBuildings 2023-08-31 14315228 core:PlantMachinery 2023-08-31 14315228 core:ComputerEquipment 2023-08-31 14315228 2022-08-24 2023-08-31 14315228 bus:FilletedAccounts 2022-08-24 2023-08-31 14315228 bus:SmallEntities 2022-08-24 2023-08-31 14315228 bus:AuditExemptWithAccountantsReport 2022-08-24 2023-08-31 14315228 bus:PrivateLimitedCompanyLtd 2022-08-24 2023-08-31 14315228 bus:Director1 2022-08-24 2023-08-31 14315228 core:LandBuildings 2022-08-24 2023-08-31 14315228 core:PlantMachinery core:TopRangeValue 2022-08-24 2023-08-31 14315228 core:ComputerEquipment core:TopRangeValue 2022-08-24 2023-08-31 14315228 core:PlantMachinery 2022-08-24 2023-08-31 14315228 core:ComputerEquipment 2022-08-24 2023-08-31 14315228 core:Non-currentFinancialInstruments 2022-08-24 2023-08-31 iso4217:GBP xbrli:pure

Company No: 14315228 (England and Wales)

LAKESIDE HOUSE DENTAL PRACTICE LIMITED

Unaudited Financial Statements
For the financial period from 24 August 2022 to 31 August 2023
Pages for filing with the registrar

LAKESIDE HOUSE DENTAL PRACTICE LIMITED

Unaudited Financial Statements

For the financial period from 24 August 2022 to 31 August 2023

Contents

LAKESIDE HOUSE DENTAL PRACTICE LIMITED

BALANCE SHEET

As at 31 August 2023
LAKESIDE HOUSE DENTAL PRACTICE LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 31.08.2023
£
Fixed assets
Tangible assets 3 422,962
422,962
Current assets
Stocks 4 3,996
Debtors 5 3,122
Cash at bank and in hand 170,189
177,307
Creditors: amounts falling due within one year 6 ( 93,859)
Net current assets 83,448
Total assets less current liabilities 506,410
Creditors: amounts falling due after more than one year 7 ( 449,411)
Accruals and deferred income ( 11,084)
Net assets 45,915
Capital and reserves
Called-up share capital 100
Profit and loss account 45,815
Total shareholder's funds 45,915

For the financial period ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Lakeside House Dental Practice Limited (registered number: 14315228) were approved and authorised for issue by the Director on 22 January 2024. They were signed on its behalf by:

H M Du Preez
Director
LAKESIDE HOUSE DENTAL PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 August 2022 to 31 August 2023
LAKESIDE HOUSE DENTAL PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 August 2022 to 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Lakeside House Dental Practice Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of dental services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts. The company recognises revenue as contract activity progresses.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 % reducing balance
Plant and machinery 10 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
24.08.2022 to
31.08.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 7

3. Tangible assets

Land and buildings Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 24 August 2022 0 0 0 0
Additions 156,381 277,655 1,280 435,316
At 31 August 2023 156,381 277,655 1,280 435,316
Accumulated depreciation
At 24 August 2022 0 0 0 0
Charge for the financial period 3,253 8,981 120 12,354
At 31 August 2023 3,253 8,981 120 12,354
Net book value
At 31 August 2023 153,128 268,674 1,160 422,962
Leased assets included above:
Net book value
At 31 August 2023 0 262,547 0 262,547

4. Stocks

31.08.2023
£
Stocks 3,996

5. Debtors

31.08.2023
£
Other debtors 3,122

6. Creditors: amounts falling due within one year

31.08.2023
£
Bank loans 7,705
Trade creditors 8,789
Other taxation and social security 2,127
Obligations under finance leases and hire purchase contracts 30,893
Other creditors 44,345
93,859

7. Creditors: amounts falling due after more than one year

31.08.2023
£
Bank loans 217,896
Obligations under finance leases and hire purchase contracts 231,515
449,411

Security has been given by the company over bank borrowings falling due in less than one year and after more than one year with an aggregate value of £225,601.